News Corporation (NASDAQ:NWSA) Stock Holdings Lowered by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia reduced its stake in News Corporation by 21.9%, selling 11,087 shares, and now holds 39,498 shares valued at approximately $1,075,000.
• News Corporation reported a net margin of 13.21% and quarterly revenue of $2.11 billion, beating analysts' expectations of $2.09 billion.
• The company will pay a $0.10 dividend on October 8th, representing a 70% yield, with an ex-dividend date of September 10th.

Bank of Nova Scotia lowered its position in News Corporation (NASDAQ:NWSA - Free Report) by 21.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,498 shares of the company's stock after selling 11,087 shares during the period. Bank of Nova Scotia's holdings in News were worth $1,075,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Optiver Holding B.V. acquired a new position in News during the 4th quarter worth approximately $31,000. Sentry Investment Management LLC purchased a new stake in shares of News in the 1st quarter valued at approximately $36,000. CX Institutional purchased a new stake in shares of News in the 1st quarter valued at approximately $76,000. Versant Capital Management Inc lifted its position in shares of News by 714.9% during the 1st quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock worth $121,000 after buying an additional 3,889 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its position in News by 53.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,600 shares of the company's stock valued at $125,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company's stock.

News Stock Up 1.6%

Shares of NWSA traded up $0.46 during mid-day trading on Tuesday, reaching $28.84. 1,104,208 shares of the stock traded hands, compared to its average volume of 3,295,735. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 13.86 and a beta of 1.23. The stock has a fifty day simple moving average of $28.97 and a 200 day simple moving average of $28.06. News Corporation has a 12-month low of $23.38 and a 12-month high of $30.75. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. The business's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. Sell-side analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The firm also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 10th. This represents a yield of 70.0%. News's payout ratio is presently 9.62%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NWSA shares. Wall Street Zen downgraded shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Guggenheim reiterated a "buy" rating and issued a $45.00 target price on shares of News in a research note on Thursday, May 15th. Finally, Macquarie reaffirmed a "neutral" rating and set a $32.70 price target on shares of News in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.12.

News Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.